Friday, Nov 20, 2009

The latesr theory - currency down = London prices up

Citywire: Want to know where next for top end London property? Look to the currency markets

Central London property prices are expected to rise between 20% and 30% over the next three years on historical exchange rate trends, research suggests. The study, for sector specialist D&G Asset Management, found that out of a series of indicators, currency had the largest pricing correlation to prime London property.

Posted by jack c @ 04:44 PM (957 views)
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1. will said...

Probably correct for prime central London properties, but they are all owned by Arabs and Russians so it won't affect the rest of us.

Friday, November 20, 2009 04:51PM Report Comment

2. tpbeta said...

That's the latest theory. Has been obvious for months, and it does have knock-on effects for the rest of us, not just in the obvious way of sellers trading down, but also because it creates the illusion of rising prices throughout the country when a disproportionately over-active high end market distorts the overall figures.

Friday, November 20, 2009 05:03PM Report Comment

3. will said...


You a spot on with the 'illusion of rising prices'. If one house in my Town is bought by a retired banker for 20% more than his neighbour paid for a similar house next door, then all the houses in that street will rise 20%. Simple estate agent logic that we have witnessed over the last decade.

Friday, November 20, 2009 05:10PM Report Comment

4. drewster said...

So in mid-2007 to mid-2008, when the pound was riding high at $2 = £1, that's when house prices were cheapest? Riiiiight.

Friday, November 20, 2009 05:51PM Report Comment

5. tpbeta said...

drewster - those were real price rises, these are not. Subtle difference.

Friday, November 20, 2009 06:29PM Report Comment

6. Mrmx9 said...

Will there actually be any British passport holders living in central London at this rate - apart from the Royal Family, MPs and those in social housing.

Friday, November 20, 2009 07:04PM Report Comment

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